2021-03-31-accounts

Education And Employers Taskforce Annual Report and Financial Statements 31 March 2021 Cthwny Regr&tration Number C6886359 IEngland an¢J Wale51 Charity Registralon Nurnb 11307e4J 111 •AAJZEW* 2311212021 COMPANIES HOUSE

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Contents Reports Reference and administrative information Trustees. report Independent auditols report 24 Financial sLitements ststement of financial activities 29 Balance sheet 30 Statement of cash 31 Princpal accounting poliryes 32 Noles lo the finanryal stalemenls 36 Education And Employers Taskforce

Reference and administrative infO￿ation Trustees Kymbertie Andrew Kenneth Brislow David Cruickshank Professor Davhl Dochety OBE lan Ferguson Karen Giles Pfolessor Sir Steven Smith Chief executive Mr Nick Chambers Registered office Quanturn House Red Lion Court London England EC4A 3EB Company registration number 06886359 (England and Wales) Charity registratlon number 1130760 Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers The Cooperalrve Bank P08ox 101 Balloon Street Manchester M60 4EP Solicitoys Freshfields Bnjckhaus Den"nger 65 Fleet Street London EC4Y 1 HS Educatton And Employers Taskforce

TwstO8s' Report Year ended 31 Marth 2021 The Trustees present their annual report together with the financial statements of Education and Employers Taskforce {'the Charity'} for the year end&J 31 March 2021. The finanaal $18tements have been prepared in accordan* with the accounting polictes set out in notes to the accounts and comply with the Chanty's goveming document, the Charities Acl 2011 and Accounting and Reporting by Charities.. Slalement of Recommended Pract￿ applicab￿ to charities preparing their accounts in accoTdance with the Financial Reportiro Slandard applicable in the UK and Republic of Ireland published on 16 July 2019. The Charity operates under the working nanie of 'Educalion and Employers,. STRUCTURE. GOVERNANCE AND MANAGEMENT Educabon and Employers was incorporated on 23 April 2009 wilh the company number 06886359 and registered as a chartty on 27 Juty 2009 with the charity number 1130760. The company's goveming instrument is its Memorandum and Articles of Association. Education and Employers is a c(Mnpany limited by guarantee and has no share capital. The Board of Trustees act as Trustees of the Charity and Directors of the Company. Truslees ensure the Charity complres with charity law and they oversee the sliategic direction. The Board meets once per quarter. Board of Trustees meetings are ciosed and attended by Trustees and the Executive Team (Senior Management Team} who report on progress against miSs￿n and provide admw)istrative support. Trustees appoint the Senior Management Team {SMT) and consider the Chief Execulwe. Director of Operations and Programmes and Director of G0Veman￿ Programmes as key management personnel. The Board of Trustees oversees the perfomance of SMT including collaborations with the partner organisations. In this year and up to the dale of the approval of the financial stalemenls. the following peop￿ acted as Tnjslees: Kymbertie Andrew Kenneth Bristi)w Oavid Cruickshank Peter Dart (resigned on 8 May 2020) Professor David Docherty OBE lan Fergusson (appointed 8 June 20211 Karen Gi Dame Joan Mcvrtbe (resb3ned 7 September 2021) Professor Sir Steve Smith Jennifer Taylor (resyned on 24 February 2021 } Education And Employers Taskforce

Trusteès, Report Year ended 31 March 2021 STRUCTURE. GOVERNANCE AND MANAGEMEKf Iconlinuedl The Board of Trustees undertakes reeruitment of new members based on a skills review of the Board. New Trustees have an induth.on and are provided with ongoing support and training to meet their responsibilities. Trustees fulfil a valuable Tole as ambassadors for the Charity to strengthen our influence with key stakeholders and decision-makers. The Charity woths in collaboration with leading organisations representing education. employment. government and interrnediaries, approved by the Trustees. Their role is essential to achievirbg the vision and by ci)ordinating their ath"vities they will provide greater clarity for schools and colleges and minimise unnecessary duplication for employers. We believe that by working together with our partners and collaborators across all seclois Ihal we can help ensure thal every young person in Ihe UK, wherever they live, atever thEryr parentslcarers. urcumslances. has the opportunity to hear first-hand about jobs and the world of work. We want our young people lo become excited by learning and by their potential. lo see the divefsity of what is possib￿ and lo make informed decI￿onS atx)ul their future. Senior Managemenl Team The team is led by the Chief Executive who manages daily opefalions including finances and strategy as directed by the Trustees. He is responsible for liaising with Trustees, partners and all other stakeholders. He reports direclly to the Trustees who are responsible for monitoring and assessing his perfomiance and that of the team. Remuneration policy The Board of Trustees sets the remuneration levels for the SMT. In setting remuneralion, Truslees have regard to the need for Ihe Charity to attract and relain highly effective people who can further the aims of the organisabon. In doing so they wish to minimise any unnecessary expense and ensure that the differenlial belween the highest and lowest paid membei of staff is kept lo a minimum. Public benefit The Trustees confinn that they have referred to guidan￿ contained in the Charity Commission's general guidance on public benefrt vthen reviewiTrJ the Charity's aims and objectives (as set out below) and in planning future ath'vit￿S and setting appropriate poliues for the year. Small Company exemption The financial stslements have been prepared in accordance wilh Ihe. provisions applicable to companies %ubjecl to the small compani&s regime. Edwation And Employers Taskforce

Trustses, Report Year ended 31 March 2021 OBJECTIVES AND ACTIVITIES The vision of Education and Employers is to "provmle young people wlh the inspiration, molivalion, knowledge. skills and opportunities they need to help them achieve their potential". The objectives of Education and Employers are: To help ensure thal all young people achieve their potential and leave education with the relevant skills. knowledge. aspirations and motivation to enter further leaming and the Wothfor￿. To contribute to ensuring that the UK'S fvture WO￿Orce i* equipped wilh the skills that employers seek and thereby to help employers realise the benefits from their involvement in education.. To provide clarity. ￿￿￿1•￿ty and efficiency in linkirMJ ￿lucatIon to ernployers,. To support the leadership and management of schools and colleges by providing highly skilled volunteers to serve as governors and Trustees.. To support ￿001S and colleges in inspiring. guiding aThJ motivating young people about the workl of work.. arKI To inspire and motivate employers. Ourvalues As a charity. we are committed to embodying our values in our work with young peopl8, schools. volunteers. employers. staff. partners and supporters. We strive to be inspiring, inclusive. innovatNe and impactful. and to act with integrity in all that we do. Inspiring: This value stands for what our Chanty is al)oul, linking the workl of work with education. to inspire children from all backgrounds to seek the very best future possible. We wll encourage and support our energetic staff. ernpowering them to do a great job. Inclusive: We will woth Ix)Ilaborativety with employer. volunteer and education partners lo champion equalrty. offering indusrve solutions that meet the diverse needs of all children, parbcularty those from disadvantaged backgrounds. Innovative: We will undertake and share our pioneering research. using our Innovative le¢hnology to offer ¢reative solulK)ns for the times. We 7MII look lo fomi new partnerships in the interests of children. do things dtlferenuy and have a 'ean do. attitude. Impactlul: We will seek to ensure that everything we do makes a real difference on children's lives. We wll ensure we draw on the diversity and talents of all our staff to do this. er￿u[agIng and challengiry each other lo improve ourselves as colleagues and to deliver a better Se￿1￿. Integrity: We will WO￿ wilh integrty to athwe our aims. This final value urKlerpins all our other value5. In everything we do we will be respectful, open and honest. We will operale wilh a strong ethical foundalton and build Trust with stskeholders and betsveen colleagues. Education And Employers Tagkforr

Trustees, Report Year ended 31 March 2021 OBJECTIVES AND ACTWMES (continued) Main activities of the Charity The prin¢ipal acttvities of Education and Employers are carried out through the following programmes that target stsle primary and secondary schools and instiluts.ons in the UK. These are supported by funded projects and campaigns which sit within these programmes.. Inspiring the Futu Primary Futures InspiTirvJ Govemance and InspiriThJ FE Goveman Research A key overarching activity of the Charty is to level the playirKJ field for all stale schools and colleges. focusing our resour(x as appropriate on supporting those most in need including children and young people who are living with social. ecorM)mic and environmental disadvantage. We work in partnership with IorAI stakeholders and other organisalions lo achieve our outcomes and we are deeply gratefvl for the input of schools. employers and our incredibly diverse range of volunteers who are passK)nate about helping young people achieve their tKltential. l of our programrnes leverage the power of technology to enable a h)W-COSt national approach. providing value for Money and an ats'lity to remain fiexible and innovative through changing cir￿mstanceS. Our Salesforce technolL)3y platfom was developed for Education and Employers wtth pro bono 5UPPOrt from Delottte and Ordnance Survey providing a pioneering approach lo connect volunteer5 from the wodd of work to stsle schools which is efficienl, effe¢b"ve. equitable and scaLible. The aim is to give all young people the opportunity to ffl*t and interact with people doing a wide range of jobs, from different sectors. levels and bad(grounds. It is av8iLqble lo all stale schools bul enables the Charity to provide focused support for young people who need it most. 11 also enables the Charity to run I￿al and natKJnal campawJns based on location. ￿noMiC sector. school subjects. diversty. S￿la1 mobility etc. Teachers, goveming boards. employers and volunteers from the world of work sign vp lo the plattorm for free and are then able to connect for a range of aclNities supporting career related learning or as govemors to school boards. The online Servi￿ is supported by resour￿$, guidance and our team who help share good practice and ensure a sU￿sIU1 match. Fee(Iback is gathered from key stakeholders to monitor actNity and c￿ntInUOuS￿ improve outcomes. A number of dynamic dashboards and automated reports gNe instantaneous access to activity data with the option lo drill down lo fittered resums which helps to monitor progress and ensure effectiveness. Educalion And Employers Taskforce

Trustees, Report Year ended 31 March 2021 OBJECTIVES AND ACTivmES (continued) Main activlties of the Charity (continued) Education and Employers Research has a leading national and internats.onal research team that has been acclaimed for pioneering research in careers educats'on. The leam work5 in partnership wth several research instilulions enabling the Charity lo bring key findings lo the attention of key stakeholders in the field of education and empk)yment. The Charily is fortunate to be working along&de highly regarded ingtitutions such as OECD Education. World Economic Forum and Edge Foundation lo further our ￿earch agenda and improve Ihe quality of careers educats.on for children and young people in the UK and beyond. ACHIEVEMENTS AND PERFORPaANCE Inspiring the Future Inspiring the Future IITF} was the first employer engagement in education programme designed and developed by Education and Employers aimed al engaging Ihousands of schools and volunteers across the country. It remains our flagship programme focused on inspiring ycNJng people in slate secnndary schools and colleges. With the successful pivot to virtual delivery instigated by the pandemic. ITF offers an unrivalled database of lens of thousands ofdiverse volunteers. This enables teachers and schools lo run their own careers piogrammes with confKlence because they can readily draw on LK)th local national volunleefs to participate in a range of both In-pe￿On and virtual careers events. "From this lesson. I have now got drfferent ideas of what I would like to Llo in the future Irom what subiecls I like sludying at schcx)l. I was intrigued with one of Ihe Jobs that involves maths. The session was very Inte￿St￿ng and it has now made me fhink ha￿r of what I wan( to do and how fo get the￿1- Secondary schwl student commenting on virtual careers chal with volunteers With the pandemic resulting in significant disrupb-on to schools and w()rkplaces during the period April 2020 to March 2021 the key focus for Inspiring the Future was in innovating an impactful virtual careers activity pr￿jramMe, working with teachers and volunteers. Thanks lo ￿ commitment and passion 0ftr￿th schc4)Is and volunteerslo inspire the rExt generalion the programme reached over 110.000 young people during the period resutting in just under 400.000 inleraclions Of'lwhtbulb moments. betr￿n pupils and volunteers. In order lo appropriately support schwls during Ihis drficutt lime the team look on a greater remit lo piovide teacher training. gumjes and reSoUr￿S on making the pivot lo virtual activities. These partiojlafty aim to draw out their abilty to continue to meet statutory requirements induding Gatsby benchmaiks. but also provide students with much needed motivation and conne(*ons to the outslde wodd. 'Fmm my perspectNe. it was 8 bnlli8nt event. to be able to cover that many students. with 8mund 200 ofyear Iostudents tuniThJ in. The fact that we hadhigh¢alibTr volunteers giving up their time and they didny have to travel over to Hampshire for the event. The way Ihe event ran and gethng all the sfudents togetherand involved. when they've all been working from home alone. I fhought was a ￿alp0S111ve.' Teacher. Wyvem College. Hampshire Education And Employers Taskforce

Tfuslee$' Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE l¢ontinued} Inspiring the Future {conlinued) During the various Icckdowns there has been continued innovation demonstrated by careers leaders and teachers utilising the online platfom. For example. a secondary school in Derbyshire used the job sectorsearch fillers available on Inspiring the Future to match virtual rnenlors with their students based on their career interests. This gave students a ri¢h experience really helping lo rneet indivKlual sludenl needs. Over the period we Ixjntinued to W0￿wIth olherkey stskeholders across Ihe sector including local aulhorrties. the Careers and Enterprise Network I"CEC°l and MullFAcademy Trusls. Key highlights have included facilitating a number of multi-school virtual activities during National Careers Week where we delivered a panel Q&A focused on the diversity of roles and career pathway5 into jobs in STEM (Science. Technology. Engineering and Malhsl. We also piloted working dosely with Sheffield City Region's local CEC to stimulate greater employer engagement activit￿S in their region including webinars for local volunteers. This included supporting Sheaf Training College (a cole for sludenls with special educational needs andlor disabilities 'SEND'I lo connecl with volunleefs who have experience of working with a disability. Feedback from the teacher demonstrated the power of relatable role m(MJels: ne of the volunteers who attended was a Fire & Risk Consulfanl, who spoke about her experien￿$ ofleaving school wilh fewqualificafyonsandstarting wortwth barriers including leaming dIfficutt￿S and mental health issues, wh￿h really Trsonated with ourstudents. Sh8 shar8d her experiences of employers supporting her individual needs and emphasised rhe importance olmanaging your mental health.- We continue to run nattonal campaigns with key se¢lors suth as NHS Arnbassadors, and funded partnerships to tsckle gender and ethnic stereotypes. This includes our Inspiring Women campaign which is sponsored by Bank of America. our ￿ad corporate SLlPPOrter, with whom we are now in the tenth year of our partne￿hlP. New funded partnerships also include the Department of Transport under their Reach for the Sky iniliative and Marilime UK. ThrO￿h these partnerships we are able lo help employers and industy sectors create better links to local communiti"es, reaching out to support young people in considering the range of roles and career pathways available to them and secure and diversify their future talent pipeline. We are incredibly grateful for their continued support and look forward to working vAth them over the coming year. his forum allows stthnts to have fitst-handarte&s to those worting within the NHS. Real people, ￿"th realjobs who Gan, in theirown words, explain to students theioumey they went on from school to their cuffent role ￿1h1n Ihe NHS. This is lar more valuable than &mply reading something on a careers web&te." Careers Leader trom the Warren School in Essex 'Gethng a coorofinated ambassadorprogramme in place 8CmSS the b￿adth of the marih.me se¢tor is a step fonvanl. This Partne￿hIP means thal we can build upon the great induStry-Spe￿fiG SGhemes already in pla￿. grow those. and ensur8 8very community g8ts the opportunity lo have inS￿nng peop￿ wsit thwr sclKds and colleges to t81k 8tM)Ut the fanlaslic worfd of mantime. With thousands of $Ch￿S ulili&ng Ihe Inspiring the Futu platfomi. we'fft now calling on industy colleagues lo come forward and sign upl" Ben Murray. Director, Maribme UK Education And Employers Taskfor

Tru$tges' Rèport Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Inspiring the Future {conlinued) Inspiring Women lad(les gender stereotyping and supports girls and young women to open their eyes to what is possible for Ihem in lenns of careers. During the last year we have published a new pre-recorded resour￿ for students to hear from Inspiring Women in sports and as an entrepreneur. which had a reach of over 8.oC￿ students during the financial year. We also hosted virtual activities deswJned to provide girls vthh relatable role models. The of the speakers was a Black woman. I dony usually see Ihat knnd of Kgpresentation - either theyTr Black or fem4le. n￿￿lY both - in co￿0rdtel0b tslks. ar￿ it was lovely lo see. Sometimes I slrnggle fo ￿late to speakern, and when they speakof IheirexperienGe, I know my own won11￿k like thal. So this talk was very educational, andmore relevant to Me than others ltre had_" Student attending virtual aclivity with Bank of America staff. icould As an open access sile wilh over 1.0(Kl videos from volunteers talking about their careers. icould.com is a fantasticway forstudents to hearfrom volunteers during the lockdown period and beyond. The sile was activety promoted by key 5takeholder5 across the careers sector. featuring in a range of published materials from Lwal Authorities and the CEC. In addition. we addgj new videos from NHS Ambassadors and volunteers working in the transport or whith were setf-fikned and then professionally edited. Primary Futures We know Ihal for children of primary age. making a connection ￿etsveen what they learn in the classrcom and how it relates lo the worfd ofwork isn't easy. Primary Futures, developed in partnership with the National Association of Head Teachers INAHT), is intended to change that. Chiklren who can see the relationship belween what they are leaming and the possibililies it opens up for them in ￿ter lrfe are likely to be far more motivated to achieve. Getting the chance to meet a w￿e range of peop￿ doing different jobs is particularly important for Ihose children from disadvantsged backgrounds who have few successhjl role models. either al home or in their local communilies. Primary Futures helps children understand how aCh￿Ving at school can lead to a satisfying. fulfilling career. The impact of programmes introducing volunteers from the worfd of work at primary level was further highlKJhled in our research report Stathng E8rfy published in March 2021 - please see below. During 2020121 we suGce55fv11y ￿MPleted a national pilot whith l¢)oked at how primary school employer engagement coukl be scaled up. It was commissioned and funded by Department for Education's Careers and Enterprise Company Primary Fund. We also used additional funding kindly provided by the AKO Foundation. This grant ran from September 2019 through lo January 2021 and successfully eng8ged 370 primary schools and 67.338 children. exceeding the target of 29.250 children by 230°/ty. Feedback was obtained from c.10.000 thildren representbng whal is believed lo be the largest study of the impact of these types of activitEs globally. Education And Employers Taskfor

Trustees, Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Primary Futhres (continued) Key findings incI￿Je.. Gains in ath.tude to schod and leamiNJ. and improved attainmenl and engagement, wtlh 82% of children more motivated in core subjects of maths. English and science. Positive irnpacls on children's arnbitions and idea5 about their futures, wilh 88% understanding how doing well at schwl is helpfvl lo in later life. Disadvantsged pupils b￿efft most: the inpa¢t of aclivilies is grealer for disadvanlaged pupils, especially for gains in confidence. speaking, listening and aimiThJ h￿hIlryln9 hard. Effective in ¢hallenging stereotypes that thiklren often have atout the jobs people do based on their gender, ethnvty and socio-economic background. Virtual sessions delNer." Primary Futures virtual live sessions are just as impactlul for pupils as fa￿tt>face sessions. Prevre¢orded actNtties also show positive indications of ￿MIlar impact level5. Relatable role mcrtjels bring added value: the more relatsble the role models. the more pupils enjoy the aclivty. and report positive influence. In parallel. virtual sessions enable children to meet a wider and more drverse range of role mc*Jels from outside Iheir local area. More is more.. there is eviden￿ of a dosage effect- the more jobs pupils hear about or the more aclivities they do, the greater the wnpact. Primary Futures works al wle. is kJY-COSt and Sustainab￿.. the established digital plaifomi is an effective tool for running volunleer-supported learning. and enables te&hers lo self-seple future events directly. Outcomes are consistent aeross the country: Primary Futures activities show consistent findings across 114 local authorities in England, in¢luding bolh rural and urban areas. As with our work in secondary schools and colleges. our tearn have developed new and innovative activtties and accompanying leaffling resources a5 we pivoted to virtual delivery. Our Primary Futures teacher ambassador group wh￿h is made up of primary school lea¢hers across the county with a good understsnding of our programme were key to the ongoiThJ devdopment of these and Sup[￿rted training for other school users. Education AThJ Employers Taskforce

Trustees, Report Year ended 31 Mar¢h 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Primary Futures {continued) Commenting on the pivot to virtual activilies, one quote whth is typical: °Despite children acce￿ng this ren70tely, pu￿lS ￿re hcY•ked and Inspi￿d. They we given first-handinsightinto vaiiedcar6eTr andinduslries and ￿Ere given the time to explo this in 8 SUPPOrtive. fun forum. The volunteers were knowledgeable and help to inspire pupils engagement. Feedback has been excellentand this has been f￿M parentstoo who We￿ also able lo watch alongside the1rchild￿n al home. The assembly has inspired further learning and has energisedthe ambition of some of ourhaAd40-rpachpupils." Headleacher Bentley High Street Prirnary. Doncaster The pre-recorded actNtknes developed duriNJ the peri¢Jl proved particularty popular with primary sthth)Is as both a useful and engaging ways of introducing the programme into school. slimulaling further topic discussion and as a way to engage children in the wider world during govemment lodtdown periods. Pre-recorded materials included our NHS Ambassador resource.. one focused on exploring gender stereotyres for Key Stage 1 children and a Fesbve'whays My Line'which follow￿1 feedback from teacher contacts who explained lo us that the pandeM￿waS diluting their usual fun. festive activilies. The resutting 'Whafs Mykn"ne? Festwe Spea81', featured a series ofvolunteers whosejobs are associated with the festive period. such as a wrapping paper company brand manager. Christmas tree grower and Crisis Christmas Centre wother supporting people experiencing homelessness. The resource was well received viilh over 400 sch¢)ols utilising it. A schod in Coventry who utilised Primary Futures as part of their pupil premium strategy described how they valued the pre-recorde(J resources especialty al limes when certain bubbles had lo se￿-1S01ate al hoff￿. The teacher.. Yeit the NHS resource ￿sonated ￿1h childTrn b￿ause they've all been to the doctor and because ofthe COVID-19 conlext. She felt the festive ftsource was a conttsstbe¢ause it highlwhted more quity, unique and helped to promote thinknng outside the box of what you can do with yourfutU￿.° Children's feedback: "Ilikedthe waywrappingpaperis de&gnedandthis has inspiredto me toconsiderbecoming a des￿￿er1￿ Ihe fvture.- .1 re81ty enjoyed leaming almxrt all the drf1e￿nt things they do in th&riobs and this has inspiftd m8 to b6￿me a helperat a homeless shetter.- .1 leamt Ihart ￿adIng is Aeally important in youriob 8nd life. This has madg me think about the work I pmdtTh in leading lessons.. We also ran a number of Primary Futures Showcase events as part of National Careers Week where we were joined by over 1.400 partiClP8nls from 42 schools across the UK. Children from Year 1 to Year 6 r￿1Ved a series of clues from three volunteers about their j¢kn and proGeeded to have a guess lo see rf they coukl work out what they did. The volunteers then talked about their roles to give some insighl into their day-trpday jobs. Education And Employers Taskforce 10

Trustses, Roport Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Primary Fu￿reS (continued) OurFuture Dertjy We continue lo lead a Derby-based cortsortium project working with primary schools located in areas of swJnificant ecoftomic and social di%advantage. funded by the Derby OpFX)rtunity Area. In partnership with Leam By Design and DMH Associates. the project successfully delivered on its first Feriod of funding working with 32 primary schools across Derby who were engaged wilh a variety of career relaled activities. with Primary Futures used as the matching platlorm betr￿en schools aTrJ volunteers inVo￿ed in the project. A celebration event accompanying the publication of the evalualion was held in eaty February 2021 and we successfully secured funding for the remainder of the 2020121 academic year and a further grant for the 2021r22 ae8demic year. The evaluation demonstrates clear evidence that these aetivities do help children to broaden their horizons and increase their confidence and belief that they can do a range of jobs. We didn't understand the imp8Ctof careerleaming atall untslil happened. We r8alised from doing the questionnaires that the children had very narrow views when it came to the fulure... So for us if was about how can we change that?. and the project gave us that Chance. We saw rf strawht away- the children were really engaged and they loved finding out about newiobs... seeing their eyes Iwht up was just brilliant." Year 6 Teacher al Village Primary Academy in Derby Governance Programm8s Inspirlng Governa￿e and Inswrfng FE Govemance In 2020121 we continued to delNer the Inspiring Govemance school govemor recnjitment semce for the Department for Education {DIE). in partnership witti the National Governance Association INGA). We also delNered the Inspiring Further Educ81ion Govemance FE College trustees r&3uttment service for the Education and Training Foundation IETF). The govemorl trustee recruitinenl serVi￿S work using our unique Salesforce and Ordnance Survey mapping technology platfom. where volunteers can register their interest in bettjming a govemorltruslee and recruiters can post govemor vacancies whilst also searching for suilable volunteers in their local area. Those govemors appointed in schoots have been provided with supportin9 induction materials, online CPD and a dedicated helpline by the NGA. Delivery of these prograffffies was under contract extensions exercised by the DfE and ETF, based on strong perfomiance in the previous contract year. During the financial year April 2020 to March 2021, we successfully met all KPIS and secured full payment from both the OfE and ETF. Education A￿1 Employers Taskforce 11

Trustees, Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE {¢ontinued> Govgmance Prograrnmès (continued) Inspiring Governance and Inspiring FE Governant• (continued) Both contracts have also been successfully continued into 2021122 bul under the t￿htened funding arrangernents of the on&year spending review. This has meant that. for the Inspiring Govemance contract. we have accofflrni)daled a 45% reduction in budget which. during the latter half of 2020121. ne¢essilated a staff re-structure and a reduction of the support offer provided to new governors from April 2021. Despite Ihis, bolh services have conlinued lo exceed targets and provide robust value ￿ ff￿ney. As part of our govemance work and ¢C￿￿rtment lo securing a diverse ¢ivi¢ democracy. we have re-doubled our commilment to dNerstying school and college governing boards. Under ourjoint Everyone on Boardcampatgn wilh the NGA we have worked with passionate partners like the Black Young Professionals Nelwork and Ihe Civil Service Race Forum lo promote the role of govemor to skIl￿d and dNerse professionals. We have also worked with a number of empbyers. staff inclusion networks. including 'Women onlo Boards,, netsvorks lo yjpport the Pfcgression of women and those from ethnic minority backgrounds into senior leadershp positions within thlyr organisatK)ns. In 2020121 19% of our matched govemors were from a Black. Asian or minority ethnic background {a figure which has now risen to 30% in 2021122). In the latter half of 2020121 we worked wilh Diverse Educalors and broader governance partners lo promote and deliver a series of six webcasts around diverse g0veman￿. focused bolh on diverse recruitment bul also on developing a more inclusive goveming board culture. Additionally. in 2020121 we part-funded the NGA'S excellent research into InC￿aS1ngpartl￿pal￿n in schoolandtrust govemance which has now been published in 2021122. In response to goveming boards. continued articulation that they often lack education expertise on their goveming boards lo challenge headleachers, we have continued our joint Educators on Board campaign. Kindty supported by the Association ol SGhool and College Leade￿, the Nat￿nalASS0¢￿ali0n of Headfeachers. the Chartered College of Teaching, the Society for Educalion and Training. Am￿tion Institute. Teach First. and the Ind8pend8nt Schools Council we have recruited hundreds of extra education professionals. across all English regions and school phases. to supkxsrt goveming boards. In ajdstson to education voluntee￿. we have worked wrth a nationwide neiwork ofemployers {both private and public sector). professional associations and member netsvorks to talk to volunteer5 aboutthe role of g0veman￿. 25 ofthese organisations have now deepened their comrnitrnent and become bchool Governor ClidllllJiUllS. promolirrfJ the role of govcrnor to their staff, and supporting them undertake the rofe. Our Value of Volunteeiing research report that we launched with the CIPD in January 2020 which is detailed below has allowed us lo make a persuasive case for volunteeriThJ as a sch￿1 govemor. In addition lo the huge benefits to the school itself there are beneffts related to professional skill development. employee motivation and produclNity. and ￿tsOnal health and welkbeing. Educalton And Employers Taskforce 12

Trustees, Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Governance Programmes {continued) Inspiring Governance and Inspiring FE Govemance (continuedj We have enjoyed strong relationships throughout 2020121 with wide range of governor and trustee recruiters. These have induded L￿al Authorities. Academy Trusts, Dioceses and a wide range of schools. colleges. and academies themselves. The DfE's own research (undertaken by NfER and published in autumn 20201 has confirmed that Inspiring Governance is the most widely used independent govemor recruilmenl service in schools and last year saw thousarKJs more schools and trusts sign up lo use the service. We have also provided particular support to schools in the DfE's 12 '0pportunity Areas, now having placed over 360 new govemors in these areas. This aEongside a targeted programme from the NGA that supports struggling schools in OAS to recruit a 'Fulure Chairf- thus avoiding the disjoin and nsk to a schwl's perf0mlan￿ that can happen when an experienced Chair steps down. Our lourth survey of appointed governors conducted in summer 2020 showed positive findings of those volunteers who have been placed through us and appointed into school govemor roles. Our survey found.. • 91•A of appointed volunteers were enjoying their governor role • 97% would recommend b￿MIng a govemor to a friend • 94% of placed govemor5 fell they had helped the governing IXKIY • 74% of ￿ruIterS felt the appointèj govemor had already made a posilrve impact In addition. nine out of len recruiters would recommend the Inspiring Governan￿ Servi￿ to others lour latest autumn 2021 surveys show Ihal this is now 980h). We have received some very positive feedback in 2020121 that reinfor￿ we are on the right track w((h the seNice we are providing: -1 am cuffenty a vKe chairof govemors ata primary sch(￿. May I take this opportunity to fhank you because we have found some wonderful, ￿-opted govemofs u&ng this resotsrcel. -1 was v8ry Mnpress8d by the rewurces whKh wer8 rel8as8d when l updated our candidate s slatus. l ￿11 certainly spread the ssord about Inspiring Govemance. It has hpp.n a very effective source of h￿h-q￿aIlty govemois. Thank you.. "I can confin77 have recrthted Avo govemors and we are happy not to renew Vacancies fvrther. Thankyou IoryourexcellentguKlan￿ andas&sl8nce thmu9houtthe prrJ¢ess.° 'InspnrnJ Govemance is a g￿81 ￿$OU￿e1. EducatKJn And Employers TaskforcE 13

Trustees, Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE ((ntinued) Governance Programmes (continued) Inswnng Govemance and Inspiring FE Governance (continued) 'We've l)een able to fill a large number of vacancies (Members & Trustees), and Inspiring Goveman¢e has been a major help in us doing that. with some great candidate4 thank yo .1 have had ffantas￿ success wifh 2 of my roles that are already filled.. • Yhanks to this sernce, I have lh￿e gocKI qu81ty candidate&° • Yh4nks Inwnng Govemance- A reallyhelpfvl setwcel. • Thank you foryoursupport- a g￿8t seTricel- ..Can ljust say Ihanks foryour woth behind the stsnes in ￿e￿itIng ourgovemots. It has been a great success and we are now busy with the induGfvtM lo Ihe goveming body. I gave you a shout out at the heads meeting this week in our Injst to share the success we h8ve had following our meeling with you so word ii?ay gel aroundl Thanks 8g8in, it has been much appreciated. Keep safe." -1 would very much like io use IG 3gain as it was so suGce&sful forus last time.. "I can confirn th8t t%w) govemorn have been app￿nIed to our goveming bcty. Thank you foryour excellent service." °Hi, it ￿allY has been incredible. and l am hopeful thal we can get all vacancies fi118d maybe keep a few on standby too. I'll keep you posfed with how l am getting along.- The Charity is immensety gratefvl lo all the employers and professional associations that have supported the seThice and all the indNiduals who have volunteered to become a govemor. Our suNey and research continue to highlight a slfong altruistic nature to volunleers, motives with nearty three quarters of respondents desuibing their main motivat￿￿ as 'giving somelhing bad(.. This is in addition to the great professional development volunteers get from deploying their professional skills in a school or college setting. We would atso like to thank our funders the Department for Education and the Education and Training Foundation,. our delivery partnersthe NGA,. and all the large govemor recruiters who have worked with us from indNiduals to local authorities lo mulli academy trusls. Oui resolute focus in 2021122 V•llll be lo seek and respond to your feedback and continue to irnprove the customerjoumey in the year ahead. Education And Employers Tasklorce 14

Trustees, Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORP4ANCE (continued) Research History of EmployerEngagement Report On 9 Augusl 2020, to coinade with the 150th anniversary of the Elementary Educab'on Acl re￿1¥Ing Royal Assent on 9 August 1870. we published A slM)rt history of employer engagemenrjl The aim was to stimulale debate around the progress and purposes of employer engagement with the education seclor and encourage reflection on what can be learnt from past. It begins with a brief look at the eaty orvJins of employer engagement starting with the first apprenti￿h1pS in 1497 and then considers in more delail the various approaches and initiatives in recent decades. It was written by one the Charity's Resear¢h Associates Prue Huddleston. Emeritus Professor al the Unwersily of Wawick and former Director of the Centre for Education and Industy at the University. The Value of Volunteenng Report On 8 January 2021 we published the Value of volunteerin￿ report which examined the effect on individuals of volunleering in schools and col￿e$ and the parallel benefits lo their employers. 11 found thal volunteering in UK schools and colleges brings three-way wins. with benefits for employers, staff and young people. The report published in partnership with CIPD found that employee-volunteering in schooLs was a sound investment for employets. bringing multiple beneffts for indNiduals and organisations= or rnC￿e volunteers reported berth for their communication. infiuencing & relalionship skills wilh over ham also benefitting for teadership and other skills. • 790A reported improvements to their sense of mission atwork as a resu￿ ofvolunleering in education and 68% repOrt￿j greater motivation al work. 84% also descrited beneffts for their mokn"valion in daY-l￿daY lrfe outside of work. • Over a quarter reported greater prc*Juctivity al work. with 44% reporting manager recognition for the impact of their volunteering. More than a third said volunteering had helped them apply for different or more senior roles. • The oveThthelming majority {94%) felt they gained a better understanding of society and s￿181 issues. • Almost 811 people (99%) who are volunteering in schools fell that they made a differen to young people. Education And Employers Taskforce 15

T￿￿tee5, Report Year ended 31 M¥ch 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Research (continued) Starting Earfy Report The Starting Earty.. Building the Foundations fOrSU￿sS5 reportwas published on 24 March 2021. Drawir¥J on researth from 2014-2021. suTheys of over 1.000 teachers aThJ 10.000 children. Stathng Earty comprises in4epth anatysi5. case study insights and qualitative diseJJssions. covering.. The poltcy history of career-related learning at primary school The evJence of interventions at an intemational and local'level 8est practi￿ guidelines for maximising Ihe impact of activit￿s. together with new analysis comparing ￿mote and in-person sessions. and at what age activities could start The research showed that ehildren from as young as five have ingrained stereotypical views about the jobs people do based on their gender. ethnicity. and S(￿lat background. Most children's career aspiratj.ons are based on family, friends. and the media. with less than 1% knowing about a job from someone visiting their school. Aspirations are narrow and oul-of- sync with labour market demands. Career aspirations are also surprisingly persislenl over lime, similar at age 17-18 as among primary school thildren. Aspirations uttimately only reS0￿e in laler harsh entries to the labour market. as supply jarringly adjusts to demand. These narrow. slereotYFed views lead to a steep cost in economic prosperrty. OCLupational diversity. and individual career fvlfilmenL The report provides the eviden￿ behind a lth¥-COSt approach that is underexploiled in addressing this ChaI￿nge.. giving children access to tole models from the world of work and empowering leachers lo connect directly with employer volunteers lo organise high-quality career-relaled ￿arning. These activrties reduce stereotypes. enhan￿ confidence. foster positive attitude towards school. and improve attainment. Example fiTrJings include= 90% of wimary sthool tea¢hers ￿ported in 2017 that 'involvemenl in activities with employers. could impxt the academic athievemenl of pupils. • In 2018, the top three outcomes for teachers were challengiTh3 gendef stereotypes. bringing learning to life. and broadening childTrn's aspirati￿ - 9UPPOrted by 97rh + of reswndents (with 60%+ stroThJly agreeing). 3 htt s.1fvh￿.ed￿ationandeffl lo Islartin ear Education And Employers Taskforce 16

Trustee5' Report Year ended 31 Mar¢h 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Research (continued) sta￿ng Earty Report (continued) • After participating in a ¢areer4elated leaming evenl. of arouThJ 9.300 chiklren agreed that "I now understand how leaming Maths1EnglishlScben￿ can be useful in many jobs". • Out of some 1.200 chiklren in schoo15 Wrth the most economically di$advanlaged students, 78% said "I now know there are k)ts of jobs available to me when I grow up" and 74% said "I feel more confmlent in what I can do after today's activity". • After a sirole day's activities, 25% of 7.gjo children even said it had changed their mind about their fulure job interests- with a further 25% saying it might have done. • The importance of eaty intervenkn.on can be seen in the persisteno of prefe￿nCeS and stereotypes in career aspiralions.. sector and status preferences of seven-year olds are often surpriwngly similar to those of 1&year okls. • Stalistical research eviden￿ of primary age programmes fmm around the world reinforces pupil testimony and teacher experience )oul positive impacts.. A randomised control trial of primary age enterprise education in the Netherlands shows gains in areas like selffficacy. persistence. and Creativty. Benefrts in areas like career aspirations. attendance. and attainment, particularly for disadvantaged pupils, were identified in an analysis of around 5,000 9-10 year olds in the UK comparing intervention schools against control group sthools. A series of US sludies relate improved career-relaled leaming and counselling with higher grades in stsndardised tests. with eXarnp￿ increases of c. 6QApts in profiC￿neY rates in English and Maths e4Jmpared to similar schools that not implement the prograrnrne. OECD launch of Education af Glance On 8 September 2020 we partnered with the OECD for the first ever virtual launch of Education at a Glan￿. Andreas Schleicher.OECD's Director for Education and Skills, unveiled the latest dala on the performano of eduration systems in the UK and across other OECD countries. This was fcAlowed by a panel discussion we hosted on vocational education and training. Education Efflployers Taskfor¢e 17

Trustees. Report Year ended 31 March 2021 ACHIEVEMENTS AND PERFORMANCE (o)ntinued) Research {continued) The Future of Educallon webinar On 28 January 2021 we partnered with the OECD for a webinar lty)king at the future of educats"on. Its focus was on lookn.ng ahead and beyond the current pandemic and considering how education mvJht change. It started with the OECD 0U￿1n¥ng four different scenarios describing what education miqht k)ok like in the future. and what each scenario mighl mean for students. The pand members were asked how they envisaged education changing" the impact of our increasirwj familiarity aThl use of tethnolLNJy and online learning.. ifoureducation syste￿￿ are keeping pa￿.. and cruL?ally. how do we best Prepare our young people for the future, while at the SaTne lime ensuring that we have the w0￿forCe we need? Nearly 4,￿0 people joined the webinar from 122 counties, an all-time record for an OECD Education webinar. Online rnsearch library ma￿$ tsn•yfjar•nnIve￿ary The Chari￿s online librar¢ pr￿1[￿5 a comprehensive repository of the different and effective approaches lo empksyer engagement and careers education. It brings together the latest thinking wth selecled research pub￿shed over the past 40 years. Free to a¢￿$$ and searchable by keyword. itfeatures summaries ofa wide range of studies with abstracts and links to the full reports. Over the last decade the library has become a valuable asset for researcher5, academmz and poI￿Y makers. With research articles and report5 from leading fvJure5 and educabon bryjies, visrtors can examine issues such as employer-led kaming, youth employment. Career￿elated leaming in primary schools, and social mobility, as wdl as infcrnts'on on gender, ethni(ity, and specific subject study such as STEM. The main library is ￿mpleMented by an extensive online video collection and a physical library. The video collection Comprises over 150 videos of ￿SearCherS discussing their work and its impli(*lions for policy and pract￿. togethw wrth Conferen￿ presentstions and wninars. The physical h"brary locat￿ in Charivs offices contains many out-of-print reports. induding material from the forrner Centre for Education and Industy at Ihe UnNersity ofwarwick. Education And Employers Taskfore£ 18

Trustses. Report Year ended 31 Marth 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Research (continued) Intemational Our programmes and research conb.nue to attract intemational interest. For example. career-relaled leaming through Primary Futures is gathering momentum, the most notable being in New Zealand where we are partnering with the Tertiary Education CommissionlTe Amrangi Matauranga Matua which is responsible for all careers provision in the country. On 27 May 2021. the prerfJramme was launc*t8J to all primary and intemiediale schcN)Is in the country by their Education Minister. Chrts Hipkins. MP at a lively event at Avalon Intermediate School in HulL Well1r￿n. In launthing the national programme. Chris said. "From a ￿allY earty age. fom? stereolypes aljoul what types ofjobs a￿ good for boys and what types ofjobs are good forgirfs. We want to help broaden their aspitstions... You can't be whatyou can't see and we need to stop childrpn fmm wling out ¢aTrerpossibilities because fhey believe. irnplicity or explKity. that their fvlure career ¢hO￿eS are limited by their gender.- Davos Just because Covid-19 prevented the World Economic Forum being held physicalty in Davos this year. our Charity didn't want young people there to miss out on their chance to be inspired. Each January for the last two years Education and Employers has organised for people who are in Davos for the WEF to visit local schools and chat to young people. 11 has enabled primary and secondary students lo meet an amazing range of people who can inspire theffl. tslk about the different subjects they StUd￿d. and show them some of the differentjobs and career routes they rnighl not be aware of. It IS also a wonderful opportunity for the delegates to be able to meet the young people of Davos. lo hear what they think and what issues matter to them. This year. in partnefship wth the Swss charity MODELLE and with the support of OECD Education. our chartty has arranged four virlual sessions- one with Davos primary ￿hOOlS and three with secoThJary sthools in Davos and Kbsters. The first event on 27 January 2021 was a Q8A chal with CEO and co-founder of Snapchat. Evan Spiegel. Students had the thancE to ask Evan questions about being 8 CEO. the Snapchat app, hi5 favourile subjects in school and how he gol to where he is today. Education And Employers Taskforce 19

Trustees, Roport Year ended 31 Marth 2021 ACHIEVEMENTS AND PERFORMANCE (continued) Research (continued) Davos (conlinued) On 28 January 2021. primary thihjren in three different classrooms in Davos simullaneously joined a virtual interactNe Primary Futures session running in Gemian. The children had Ihe chance to hear from four multilingual volunteers who talked about their lobs. Children asked some fantast￿ questions lo find out more about the volunteers. roles, including. What's your favourile language to use in your jobv "Have you ever had doubts about the job you doy 'DKI you want lo do something different when you were younger7-. "Did you go lo university?" Reflecting on the sessK)n. children learnl Ihal il's possible lo have more than one job in your life" and "not to gNe up on your dreams-. Two further Inspiring the Future sessK)ns t¢)ok place on 29 January 2021 in Kloslers. The young people of Davos made a video for the volunteers lo show ￿at it looks like this year without WEF. Thank you The Trustees are gratefvl to the support gNen to the Charty by many individuals and organisations. We would like lo lake this opportunity to thank the thousands of volunteers. organisatsons and partnerships wthout whom our work would not be possible and to all the schools and teachers who work so hard to inspire the next generatK)n. Education and Employers works with and through partner5 and special Ihanks should go to 8ank of AmeiKa, AKO Foundation. National Association of Head Teachers. Edge Foundation. Health Education England. Departmenl for Education, Department for Transport. CEC. Freshfields and ordnan￿ SuThey amongst many others. FINANCIAL REVIEW The total income of Education and Employers was £1.640.149 (2020.. £2,238,047) and a deficit of £92.118 (2020: defficii of £104,445) for the year ended 31 March 2021. Fundlng and going concern The income of the Chanty has been supported in the year by the ￿ntInued activity of a major supply contract for the Department for Education, Inspiring Govemance. Under this contract the Charity has used the technology developed under the Inspiring the Future programme lo match volunteer school govemors wth suitable vacancies. This is a major undertaking for the Charity which has involved considerab￿. rtpvp..lopment of our technology plalform and recruitment of regional staff in areas where school govemors have been lo recruit. The contract awarded by the Education and Skills Funding Agency for the ASK programme 201&2019 vrds not renewed for the next three years and came to a successfijl conclusion in July 2019. Several staff were made redundant and others redeployéd within Education and Employers. Education And Employers Taskforce 20

Trustees, Report Year ended 31 March 2021 FINANCIAL REVIEW (continued) Funding and going ¢oncern lo)ntinued) The Charity makes forecasts of future funding based on different outcomes lo funding bids and dependant on whether SKJnificanl contracts are renewed when they come to thelr contract renewal date. In respect of the Inspiring Governance contract that comes to an end in March 2022 the Charrty has rnade forecasts for t)oth a continualKin of funding and wilhoul any conlinualion of this funding. In both cases the forecast indicates that the Charity has sufficient accumulated reserves lo continue with its core activities throughout 2022 albeit after making Suitab￿ adjuslments lo its operating cost base. Our accounting poliGy on going concem on page 32 goes into further detail on future funding. The Charity has a￿ayS sought to broaden its intome sources to include grants from charitable Tnjsls and foundations. develop corporate partnerships, and relationships with prospective major donois. The Charty is positioning itself as a specialist partner to potential partners for projects and contracts offering our expertise lo add value. Resefves policy The total reserves held by the Charity at the year end were £565,133. This is made up of £527.816 restricted funds. £19.246 designated funds and £18,071 general unrestricted reserves. The value of the restricted. unrestricted and desKJnaled reseNes is monrtored by the Chanty and reviewed annually when the statutory accounts are presented for approval. The Trustees con&der that the Charity shouhj relain reserves Suff￿lent to cover three months basic running costs. This equates to £350.OfJ) and al the year end this target had been met. This is on the basis of the total restricted and unrestricled funds held al the balants sheet date. as the majority of charitable expendrture is within restricted fvnds. Principal risks and uncertainties Management and the 8oaid of Trustees conbnuously monitor the major risks to which the Charrfy is subject. namely continuation of ils funding and its reputation. Funding. Funding is regularly and dosely reviewed by the Trust￿, with the strategy lo maintain medium temi funding. The Charity remains small. low cost and flexible and, in the event of a sudden loss of funding. an orderly close-down could be affected. Having reviewed the strategic risks facing the Charity as well as the cash flow forecast models for various S￿nariO$. the Trustees consider that there are sufficient reserves held at 31 March 2021 to manage those risks and achieve their business plan. Education And Employers Taskforce 21

Trusteg5' Report Year ended 31 March 2021 FINANCIAL REVIEW (conbnued) Piincipal risks and uncertainties (continued> CoNlld-19. The effect of CovKI-19 was only fe￿ at the very end of the financial year. SchooLs were closed in rnMJ-March 2020 and the Charity ck)sed its ￿ntral London office and moved all staff to remote working. This change was achieved very effectively and so was the transilion of service delivery lo an online offering which has been well recewed. However. the online offering is not yet reaching Ihe numbers of young people that we were reaching formerly although the rale of increase is encouraging. Reputal#)n. The Chanty has taken centre stage in the area of education and employer engagement: management and Trustees recognise that the future of the Charity depends on maintsining this position. To Ihis end, all programmes and events that the Charity runs are professionally managed. and all research work the Charity sponsors is Carr￿ out and reviewed in a thorough. professional and independent manner. STATEMENT OF RESPONSIBILITIES The Trustees. who are also the diredors of Education and Employers Taskftsr￿ for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom AcGounting Standards (United Kingdom Generally Accepted Accounbng Practice). Company Law requires the TnJstees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of the incoming resouros and 8pplbcati¢)n of resourees. induding the income and expenditure. of the charitable ¢ompany for that year. In preparing these financial statements. the Twstees are required to: select suitable accounting ￿ltieS and then appty them eonsistently" observe the methods and prinCip￿S in the Charit￿S SORP: make judgements and estimates thal are reasonable and prudent.. and prepare the finanual statements on the going concem basis unless it Is inappropriate lo presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 20Cfj. They are also responsible forsafeguarding Ihe assets of the Chartty and hen￿ for taking reasonable steps for the prevention and dete¢tion of fraud and other irregularities. Education And Ernployers Taskforce 22

Trustees, Report Year ended 31 March 2021 DISCLOSURE OF INFORMATION TO AUDITOR Each of the Trustees has confirmed that there is no infomiation of which they are aware which is relevant to the audit. but of vthich the auditor is unaware. They have further ConfiM￿d that they have taken appropriate steps to klentify such relevant information and to estsbtish that Ihe auditor FS aware of such infomation. The Trustees, report was approved by the Board of Trustees and signed on their behalf by Mr David Cnjickshank Trustee Dated.. Ar￿40¥ 20 21 8 December 2021 Edwatson And Empbyers Ta5kforce 23

Independent audito¢s report Year ended 31 March 2021 Indepgndgnt audito¢s report to the tntstees of Educallon and Employers Taskforc8 Opinion We have audited the financial statements of EdUcatiC￿ and Employers Ta5kforce ('Ihe Charity'} fof the year ended 31 March 2021. which comprise the statement of financial aclivilies. the balance sheet. the stslement of cash flows and the related notes, including a sumfflary of wgnificanl a¢countsng polioes. The finanual reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Finanual Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally A￿pted Accounting Practice). In our opinKJn the finanryal statements.. give a true and fair view of the state of the Charitys affairs as at 31 March 2021 and of its financaal result for the year then ended" have been propedy prepared in acu)rdance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basis for opinion We conducted our aLkltt in accordance with Intemational Standards on Auditing IUKI IISAS (UK)18nd applicable law. Our resp(M)sibilities under those slandards are further described in the auditofs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audtt of the financial statements in the United Kingdom. including the Financial Reporting Council's Ethical Standard. and we have fuifilied our other ethical responsibilit in accordan￿ wrth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to prO¥￿e a ba&s for our opinion. Conclusions relating to going concern In auditing the financial stslements. we have conduded that the Trustees. use of the going concem basis of accounliThJ in the preparation of the financial statements is appropriate. Based on the work we have perf￿rned. we have not identified any material uncertainties relating lo events or conditions that. indNidually or co1￿cliVe￿. May casl significant doubt on the Charity's ability lo continue as a going concem for a period ofat least fv￿1ve months from when the finanaal stslements are aulhorised for issue. Our responsibTlities and the responS￿lI1￿e$ of the Trustees with respect to going concem are described in the relevant secbons of this report Education And Employers Taskforce 24

Independent auditoes report Year efKled 31 March 2021 Other infommtion The Trustees are responsible for the other infomiation. other information comprises the information included in the annu81 report. other than the financial slatements an¢Y our auditovs report Ihereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise eXpl￿t￿Y stated in our report. we do not express any fo of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other infomiation and. in doing so. cons•Jer whether the other information i8 mat￿lalIY inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsi51encies or apparent material misstatements. we are required lo detemiine whether there is a material misstalemenl in the financial statement$ or a material misstatement of the other information. If. based on the work we have performed. we condude that there is a matertal misslatemeni of this other information, we are required to report that fact We have nothing to report in this regard. Opinion on other matters pre￿ribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the a￿j11.. the infomiation given in the Trustees. report, which is also the directors, report for the purpose of company law. for the financial year for which the finaneial statements are prepared is consistent with the financial slatemenls: and the Trustees. report, which is also the directors. rep)rt for the purpose of company law has been prepared in accordan￿ with applicab￿ legal requirements. Matters on which we are required to report by exception In the light of Ihe knowledge and understanding of the Charity and its environment obtained in the course of Ihe audit, we have not identffied material misstalemenls in the Tnjstees. report. We have nolhing lo report in respect of the following matters in relation lo which the Companies Act 2006 requires us lo report to you rf. in our opinion.. adequate accounting records have r￿t been kept. or retums adequate for our audit have not been r￿1Ved from branches not visiled by u5: or the financial statements are not in tyreemert with the accounting records and retums.. or ccrtoin dwJ03ure¥ of Trustees. remuneration speGffied by law are IKJI Inad¥'. ui" we have not received all the infomiation and explanations we require for our audit; or the Trustees were not entitled to prepaie thè flnanual statements in accordance with Ihe small companies regime and tske advantage of the small companies exemptions in preparing the Truslees. report and from the reqU1￿ment to prepare a Strategic ieport. Educath)n AThJ Emp￿yerS Taskforce 25

Independgnl auditorfs report Year ended 31 March 2021 Responsibilities of Trustees As explained more fully in the Trustees, responsibilities statement on page 22. the Trustees (who are also Ihe directors of the charitsble company for the purpose of company lawl are responsible for the preparation of ihe financial slalemenls and for being salisfied that they give a twe and fair view. and for such internal control as the Trustees delemine is necessary lo enable the preparation of financial slatements that are free from materhql misstatement. whether due to fraud or error. In preparing the finanoal statements. the Trustees are responsib￿ for assessing the Charity's ability to continue as a going concern. disclosing. as applicable. matters related to going concem and using the going concern basis of accounting ￿n￿sS the Trustees either intend lo liqu￿ale Ihe Charrty or to cease operats"ons. or have no realistic alternative but lo do so. Auditorfs rnsponsibilitiès for the audit of the financial statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Audilorfs report that includes our opinion. Reasonable assuran￿ is a huh level of assurance, bul is not a guarantee that an audit conducled in accordance with ISAS (UK) will a￿ayS dele a material misstslement when it exists. Misstatements can arise from fraud or error and are considered material rf. indNidually or in the aggregate. they could reasonably be expected lo influence the economic deosions of users taken on the basis of these financial statements. Irregukrities, inclu(Sing fraud, are instances of non-complian￿ wilh law5 and regulations. We design procedures in line with our responsibilities. ouuined a￿0ve, to delect malerial misstatements in resFect of irregularilies, induding fraud. The extenl to which OUT procedures are capable of detecting irregularilies, induding fraud is detsiled below.. Our approath to identty.ng and assessing the risks of material misstatement in ￿Spect of irregularib"es. induding fraud arKI non<ompliance wtlh laws and regulations, was as follows: • the engagement partner ensured that the engagement team cnlleclivety had the appropriate competence. capabililies and skills lo identty or rec￿niSe non-compliance with appluble laws arml rgJuLqtions.' • we identified the laws and regulations applicabbe to the Charity through disojssions with management. and from our knowledge and experien￿ of the sector. we focused on speuk laws and regulatts)ns which we consNJered may have a direct malerial effecl on the financial statements or the operations of the Charity, including the charit￿S Act 2011. Companies Act 2006. data protection legislation. 8nti-bribery. safeguarding. employmenL health and safety legislation- we assessed thè extent of compliance wtih the laws and regulations identrfEd above through making enquiries of rnan￿eMertt and inspecting legal c￿[reSpondenCe. and lenltfied laws and regulations were communicated wrthin the audit leam" regularly and the team remained akrt to inslances of non-compliance throughout the audit. Education And Employers Taskforce 26

Independent auditoes report Year ended 31 Marth 2021 Audltorfs responslblllties for the audlt of the financial slaternents (continued) We assessed Ihe susceptibility of the Charity5 financial statements to material misstatement, including obtaning an understanding of how fraud rn￿ht occur. by: making enquiries of managernent as to where they consKlered there was sus¢wtibility to fraud. their knowledge of xtual. suspected and alleged traud,. and • consmlering the inlemal controls in to mil￿ate rEks of fraud and non•¢ompliance with laws and regulations. To address the risk of fraud through management ￿'aS and override of controls. we: performed anatybcal procedures lo Klenbfy any unusual or unexpected relationships: • tested journal ent￿ to identify unusual transactions.. and assessed vthether judgements aThl assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias. In response lo the risk of Irregu￿rItieS and non-compliance with laws and regulations. we desvJned prO￿dureS which induded. but were not limited lo: • agreeing financial statement disdosures to undettying supporting documentation.. revmwng the minutes of Trustees. meetings.. • enquiring of managemenl as to actual and potenbal litigation and daims. There a￿ inherent limitations in our audit proeedures de￿bed above. The more removed Ihal laws and regulations are from financial transactions, the ￿s$ likely it is that we would become aware of non-complianee. Audsting standards also limtt the audit procedures required to identify non-cornpliance laws and regulations to enquiry of the Trustees and other management and the inspecbon of regulatory and legal Correspondence. rf any. Material missLitements that arise due lo fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilit￿S for the audit of the financial statements is located on the Financial Reporting Council's website at-. wM¥.frc.org.uklaudilorsresponsibilrties. This descripts'on forrns part of our Audrtorfs report. Education And Employers Taskforce 27

Indep•ndgnt audito¢$ roport Year ended 31 Marth 2021 Use of our report This report is made solely to the Charity's Trustees. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken SQ that we might stale lo Ihe Charity's members Ihose matters we are required lo slate to them in an Auditor's re￿rt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's members. as a body, for our audit work. for this report. or for the opinions we have fom)ed. Katharine Patel (Senior Slatulory Audrtor) For and on behalf of Buzzacott LLP Stslulory Auditor 130 Wood Street London EC2V DL 21 De￿mber 2021 Education And Employers Taskforce 28

Statement of financial activities Year ended 31 March 2021 Unr￿rthd Resirted fu￿j$ fuThJs 2020 In¢ome from: Dunat￿5 atwj Chantab 84,577 84.577 2.51,￿3 2.2a7 60.367 1.511.391 341 10.C 128.758 1.511.391 IA71,75t 2,151.263 2.207 10,0 1.640.149 Tot•1 in¢ty 6.784 2,151,263 2.238,047 Expnditurnon: 376 71.782 12.112 1.587.119 60.878 73.￿ 1.658.￿1 72.tS8 1A99J31 60.878 1.732367 27.879 131352 1e4),231 24.191 2.145,577 2169.768 12,493 12,493 52.070 2.290,422 2.342.492 Inspivvj ¢yJhJ Totsl •xp•nd6turn forth•yurl 55.392 1147.SIOI 34.714 1139.1591 1104.445 TrawJfr8 betxTtn fiknjs Net movernen15 in lund5 1146.3611 190.9691 146.381 11.1491 1911181 34.714 1139,5191 1104,4451 R¢¢on¢11￿10OTr of lund¥'. Tc<al Ws at l Apnl 2020 Total fvnds •t31 Mar¢h 2D21 128.2 528. 6S7,2SI 93.572 668.124 761.6 37.317 527.816 565.1JJ 128,286 S28.￿5 657.251 The statement of financial activrties indudes all gains and l¢)sses recognised in the year. All of the Trusl's activities derNed from continuing operatiorts during the above tsvo financial Feriods. The notes on pages 36 to 44 fomi part of these financial statements. Education And Employers Taskforce 29

Balance sheet 31 March 2021 2021 2021 2020 2020 Notes Fixed assets Tangible asseis 12 1.409 2,423 Curr•rtt assets: l)eblors Cash at bank and in hgThJ Total current assets 13 123.Bn 633.328 757.205 81,595 764,169 845.764 Crèditors: Amounts fallFn9 (k wlthln on ye•1 14 1193.4811 (1￿.936) Met current ass•ts 563.724 654.828 Total not ass•ts 56S,133 657,251 Incom• funds Restricted fuThls ilnre5tricted funds DÈsi9nated funds Gen¢r81 funds 17 527.816 528,965 19 18 19.246 18.071 19,425 108,861 37.317 565,133 128.286 657,251 Totsl funds The TTuslees acknowledge their resp)nsibilrties for comptying with the requirements of the Compan￿$ Act 2006 wilh respect to accounting records and the preparation of financial stslements. The financial statements have bn wepared in accordance wFth the provisions applicable to Gompanies subject to the small companies regime and in accordance with the provisions of FRS102 Section 1A- small entities. The financial statements were appn)ved by the Trustees and sgned on their fRhalf by". 8 December 2021 MT David Cruickshank Trustee The notes on pages 36 10 44 form part of these financial statements. Company RegislralKin Number: IK￿59 Education And Empwers Taskforce 30

Statement of cash fl¢)ws Year ended 31 March 2021 2021 2021 2020 2020 Notes Cash from OF￿ating •ctivities= Cash lused in) provided by operat 23 11311,9591 88,287 Inv•stSng activitiès: Purthase of tsngibk fixed assets Transfer of trade as5ets- cash received Interesl received Nèt Cash g•n•r*t•d from invésting activitses {9701 12.493 2,207 341 118 13.370 Net Idecruseifinerthise in eash and cash equivalenls {130.841) 102.017 Cash and cash eqLNvaents at 1 April 2020 764.169 662.152 Cash and cash equivalents at 31 March 2021 633.328 764.169 Education And Employers Taskforce 31

Notes to the financial statements Year ended 31 Marth 2021 General information Education And Employers T8Skfor￿ ts a private company limited by guarantee and is incorporated in England and Wales. The registered Offi￿ ks Quantum House, Red Lion Court, London. EC4A 3EB. England. In the event of the Charity being wound up. the liabilty in resixct of the guarantee is limited 10 £1 per voting member of the Charity. The Charivs tibieclives and aims are disclosed in the Trustees, Report. Accounting Policies 2.1 Basls of weparatlon of the financial statements These financial statements have been prepared in acLordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" the requirements of the Companies Act 20{￿ and under the historiol cost conventK)n. The financial statements have also been prepared in accordance wilh the accounting poliaes set out in more detsil below, to comply with Ihe Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordance with The Financial Reporting Stsndard applicable in the UK and Republ￿ of Ireland (the Charities SORP FRS 102). The Trust conslrlutes a public benefit enbty as deffined by FRS102. The financial ststements are prepared in sterling. which is the functional currency of the Charity. Monetary amounts in these financial ststements are rounded lo the nearest £. 21 Going concem The Trustees have prepared the accounts on a going COn￿M basis. It is the Trustees, opIn￿n that the Charity has sufficient irkcom8 by way ofgrants and donations. from a variety of enblies which secures their funding for at least the nexl tsvelve months from the date of approval of the financial statements fthe forecast period")- In making thal assessment conshderalion has been gwen to the anliupated renewal of contracts due to expire within the forecast period whefe consNdered lo be probab￿. with plans in place to miligale against the loss of income should that be the case. The Charity has made forecasts lor both a continuation of funding and without any continuation of this funding. In both cases the forecast indicates that the Charity has suffiaent acoJmul8ted reserves to continue with its core actNities Ihroughout 2022 albeit after making surtable adjustments to ils operating cost base. The Trustees have reviewed Ihe cash flow projects for the forecast period and the Charity has sufficient cash at bank lo m￿l its liabililies as they fall due. The Trustees and managernent continue to work to secure medium and longerterm funding. where appropriate in partnership with othets. but always retainir*J the guiding principles of Independen￿ and that services are free. EducalM)n And Employers Ta$kfOr￿ 32

Notes to the financial ststements Year ended 31 March 2021 Accounting Policies (continued) 2.2 Going concern {continued) The Trustees have considered whether rt is appropriale lo prepare the financial statements on the basis Ihal Ihe Charity is a going concem. induding the impact of the ongoing COVID- 19 {Coronavirus} outbTrak on that assessment. The Tnjstees believe thal the Charity has sufficient funds to continue tts activilies for at least twefve months from the date of signing the financial statements and that there are no material uneertainties impacting on that assessment. 2.3 Charitsble fvnds Unreslricled funds are available for use at the discretM)n of the Trustees in furtheran￿ of their charitable objeclNes unless the funds have been des¢gnated for other purposes. Restricted fvnds are subjected to res￿￿tiOnS on their expenditure imposed by the donor or through the te￿S of a w(Mk strand. 2.4 In¢offle Grant income received from the Department for Ed￿￿tion, Education and Skills Funding Agency and other organisation is reo)gnised using the accruals Model and spread over the length of the contract. Donations and Legacies. whith indude grants from non-govemmental organisations INGOs1 are reccM3nised when the Trust is entitled to rt after any perfomiance conditions have been met, the amounts can be measured reliably. and il i% probable that income will be received. Inveslment income is recognised on a recewable basis. nel of management fees. Interesl on funds hekj on deposit is induded when receNable and the amunt can be measured reliably by Ihe Charity.. this is normally upon notification of the inlerest paid or payable by the bank. 2.5 Expendlture Expenditure is recognised on an aceruals basis as a liabilty is incurred. Charitable experKltture comprises those costs incurred by the Charity in the delivery of its activities aTrJ services for it5 benefiryaries. It includes both cos15 that be allocated directly to su¢ ath"vities and Ihose costs of an indirecl nalure necessary to support Ihem. Govemanee costs indude those LX)$ts associated wrth the general running of the Charity and indude the operations of the Board and Jdressing constitutional, audit and other statutory requirements. All costs are anocated betsveen the expendrture categories of the Statement of Financial Aclivities on a basis designed to reflect the use of the resour￿. Costs relating lo a particular activity are allocated directty: others are apportioned on an appropriate basis. EdUCalK￿ And Employers Taskforce 33

Notes to the financial statements Year ended 31 March 2021 A¢¢ounting Policies (contin￿) 2.6 Trademarf(s Inlemally generated trademafks and logos are treated as an expense and written off to the Statwnent of Finanaal Aclivities in the year that the expenditure is incurred. 2.7 Allocalion of support costs The costs of functions. which support more than one of the Charitys activitEs. have been allocated to those actNities based on time spent in ffurtheran￿ on the Charity's objectives. 2.8 Tangible and intangible fixed assets Tartglb￿ r￿ed assets are initially measured at cost and subsequenuy measured at cost, nel of depreciation and any irnpaiTment losses. DeprecFation is rewnised so as to write off the cosl of assets less their reshyual values over their useful lives on the following bases.. Furniture. frttings and equipment 20.kn & 33% straight line 11 is the Charity's wlicy not to capilalise items ￿sting ￿sS than £1.0￿. All trademarks, logos and inlelleclual propety are written off in the year in￿rred. 2.9 Impairment of fixed assets At each reporting end date. the Charity reviews the carrying amounts of its tangible and intangible assets to detennine whether there is any indication that those asset5 have Suffered an wnpaimient loss. If any such indication exists. the recoverable amount of the a¥sel is estimated in order to detemiine the extent of the impaimienl loss {if any). 2.10 Cash and cash èquivalents Cash and cash equivalents indude cash in hand and deposit9 held at call with banks. 2.11 Financial instruments The charitable company applies the provisions of Sect￿n 11 'Basic Financial Inslrumenls. of FRS 102 to all of its financial instruments. Financial instrumenls are reujgnised in the Charws balance sheet when the Charity becomes party to Ihe contractual provisions of the instnjment. Financial assets and liabilities are offset. wilh the net amounts presented in the financial statements. when there is a *8lly enforceab￿ rMJht to set off the recognised amounts and there is an intention to sellle on a net basts or lo realise the asset and settle the liability simuttaneoU￿. Education And Employers Taskforce 34

Notes to the financial statements Year ended 31 March 2021 Accounting Policies (continued) 2.12 Financial assets Basic financial assets. whth indude debtors and cash and bank balartces, ale initially measured at transaction pri￿ induding transaction costs and are subsequently carried at ?morti5ed cost using the effective interest method Un￿$S the arrangement C￿nStituteS a financing transaction. where the Iransaclion is measured at the present value of the future rewpts discounted at a market rate of interest. Financial assets da5Stfied as receivable within one year are not amortised. 2.13 Basic financial liabilities Basic financial liabilities. including trnde and other credf(ors are intlially recognised al transaction price unless the arrangement conslrtutes a financing transaction, where the debt instrument is measured at the present Value of the futu￿ receiplg discounted al a market rate of interest. Financial lia￿'1111eS dassrfEd as payable within one year are not amortised. 2.14 Taxatlon The Taskforce is a registered charitable company and as such ils income and gains lalling within Sections 466 to 493 of the Corporation Tax Act 2010 or Section 256 of the Taxalion of chargeab￿ Gains Act 1992 are exempl from Corporation tax to the extent that they are applied to ils charitable objectives. 2.15 Employee beneffts The costs of short-term employ benefits are recognised as a liability and an expense. unless these costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any used holiday entitlement is rec(Jnised in the period in which the employee's services are received where deemed material by the Trustees. 2.16 Pension The Charity operates a defined eonlribution scheme and the pension charge represents the amounts payable by the Charity to the fund in respeLt of the year. The costs of the defined contributions are charged to each adivity based M the methodology in note 16. 2.17 Operating lease Rentals paid under operating leases are charged to the Ststement of Finanual Activities as incurred over the term of the lease. Education And Employers Taskforce 35

Notes to Ihe financial statements Year ended 31 March 2021 Critlcal accounting estimates and judgem&nts In the application of the Trust's accounting policies. the Trustees are required lo make judgements. eslimales and assumptions about Ihe carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hislorul experience and other factors that are considered lo be relevant. Actual results may dffter fr(wn these estThate$. The estimates and undedying assumplions are reviewed on an ongoing basis. Revisions to accounting ests"mates are recognised in the period in which the estimate is revised where Ihe revision affects only that period. or in Ihe period of the revision and futuie periods where the revision affeds both current and fvture periods. Gifts In klnd Gifts in kind are measured al their fair value. Calculation of the fair value of each gift in kind received by the Charity involves a degree of judgement to be made. which includes looking at the market value of the gtft in kind al the dale of receipt. and what would be ex￿Cted lo be paid at an arm's length transaction. This caloJlation has no net impact on the result for the year. Donations and kgacles Ur￿￿￿7#ed lurKIs Re&kndÈd lunds ds funds 2020 D(￿￿n$ 5B,050 58.050 84.577 84.577 Charitable activities 2021 funds 2020 Inwring Ihe fuiure Rtsearch 1,486,391 1.486.391 25.000 60.367 1.$71.758 2.118.490 32.7T3 2.118,490 32,T13 icould 60.367 60.367 1.511.391 2.151.283 2,151,263 Govemmenl grants from the Department for Education. Department of Local Government. Sports and Cultural Intjuslries. and CEC Careers Enterprise Company amounting lo £937,111 12020.. £1.333.333} were received during the year, in respect of the 'lnspiring the Fulure. Projèct. Thefe ￿￿e no unfulfilld conditions to govemmenl giants recognised in the year {2020'. none). Education And Employers Taskforce 36

N¢)tes to the financial statements Year ended 31 March 2021 6 Investments 2021 2020 Intere51 receN 341 341 2,207 2.207 7 Charitable activities Inspiring the future Resear icoukl Totsl 2021 Staff (tsts Olher direct costs Q)epreuatH)n and impairmenl 28.343 24.112 37 52,492 19.328 338 72,158 621,779 340,440 1.2Th) 963,419 624. 10.912 1.599,231 38.144 688,266 364,552 1.237 1.054,OSS 666,962 11,250 1.732,267 38,144 22.734 Share of support rA)5ts (see note 81 sha￿ of governance ¢ost$ (see note B) 60.878 Analysis by fund: ForthÈ year •ndod 31 Ma￿h 2021 Unrestricted funds Restncted lunds 376 71,782 72.158 12,112 1,587.119 1.599.231 60,878 73,366 1.658,901 1.732,267 60,878 For the ytr•r ended 31 IAareh 2020 Unrestrided funds Restrkled fvnds 27,879 132.352 160.231 24.191 2,158,070 2.182.261 52.070 2,290,422 2.342.492 The allocation of stsff costs is based on time spent by emp￿yeeS on each activity. Educalion And Employers Taskforce 37

Notes to thè financial Statements Year ended 31 March 2021 7 Charitable activitiès (continued) Inspiilng the luture Research icould Total 2020 Staff costs OtherdisEd costs DÈpreN"atw andimpainnent 101. 179 31.905 625 133.709 24,459 738.930 533,117 5,627 1.277.674 886,023 18.564 2,182.261 840,109 565,022 6,252 1,411,383 910.482 20.267 2,342,492 Sham of SUp￿Cost (see note 8) sha￿ off govemance c051s (see 8) 160.231 Anafysls by fvnd Un￿Strtete<1 funds Reslrictedfunds 27.8T9 132.352 160.231 24. 191 2. 158.070 2, 182,261 52,070 2,290.422 2,342,492 8 Support costs Support Govemance osls T¢rtal 2021 Totsl 2020 Staff costs Other costs ALKIrt 18eS Legal a￿1 wofe5gon 429.019 237.943 429.019 237,943 4.250 7.000 678.212 420.391 1.055.113 15.550 5.077 1,4￿,131 4.2SO 7.000 11,250 666.962 Support and governance costs are allcKated in proportion to the direct costs incurred in resped of each actiwty. 9 Net movement in funds 2021 2020 Net mo¥*rn•ftt in funth is stated aft•r charying Fees payable to thè Chanty's audittir Deprec¥ation on tsngible fixed assets Operatiro lease chapJes 8,750 1237 50,060 15,550 6.252 52,000 10 Trusto•$ None of the Trustees (or any persons cOn￿cted with them) re￿Ned any remuneralion of reimbursed expenses from the Charity during the year (2020: none). Education And Employers Taskforce 38

Notes to the financlal ststements Year ended 31 March 2021 11 Employees Number of employees The average monthly number of employees during the year was.. 2021 Numb•r 2020 Number Research Inspiriry the future OthÈr support staff 17 10 29 14 17 33 Employment costs 2021 2020 Wages and salariès Social security costs (Xher pension costs 971.960 94674 50,651 1.117.285 1,100,133 108.999 51,368 1,260.5(YJ The Charity offers all em￿oYeeS a season ticket loan vthich is repayable by employees within the year from the date the loan is issued. The number of employees whose annual remuneration was £60,CK)O or more were: 2021 Number 2020 Number In thè band £60.001- £70.000 In the band £70.001 - £80.000 In the band £80.001- £90,000 The Charity considers the Board of Trustees. the Ta$kf0￿ Dire¢lor and the ITF senior management as their key management personnel. The total employment benefits (including employerfs national insurance conlributKins and employer pension contributions) of key management personnel was £258,070 (2020: £228,012). Education AThJ Employers Taskforce 39

Noles to the financial statements Year end&J 31 March 2021 12 Tangible assets Furniturg. fittin9s and èquipmènt Cost At 1 April 2￿20 Ad￿￿on5 Disposals At 31 Mar¢h 2021 5S.108 223 15,572) 49,759 D8pr•ciatlon Al 1 April 2020 Charge f¢Y the year OisposaL8 At 31 IAar¢h 2021 52,685 1.237 15.572) 4B.350 Net book valu• At 31 2021 At 31 March 2020 1,409 2,423 13 Debtors: amounts falling due within one year 2021 2020 Trade debtors Other ¢Jebtors Prepayments 93,800 8,804 3,807 68,984 81.595 30.077 123,877 14 Creditors: amounts falling due within one year 2021 2020 Trade creditors Oiher taxatth and scoial secuirty Other ueditors A¢znJals and deferred srKorr 77,473 68.621 8,227 39,160 193,481 43.050 ,683 8,091 43,112 19).936 Education And Employers Task[Or￿ 40

Notss to the financial statgments Year ended 31 March 2021 15 Deferred inGorne 2021 2020 Deferred Inco￿ at l Apn'l Incoming resources received requirin9 defement Release ol incoming resources during the year Deferred incomè at 31 Mareh 60.000 3,623 I60.C￿oI 3,623 The movement on deferred income represents icould monies re￿Ived which were deferred at 31 March 2021 and will be recognised as ineome in the year ended 31 March 2022. 16 Retiremenl bgnefit Schemes The Charity operates a defined contribution pension scheme lor ?11 qualrfying employees. The assets of the scheme are hekl separately from Ihose of the Charity in an independently administered fund. The charge lo Statement of Financaal Aclivilies in resped of defined contributK)n scheme was £50.65112020.' £51.368). At the balan￿ sheet date the Charity had total pension contributions outstanding tolalling £7.475 {2020= £7.201)- 17 Restricted fund$ MovemBnt in funds Balance at 31 March 2021 Ba￿n￿ at 1 April 2020 Income ExFenditvre Transfers Research Inspiring the ftrture ic0￿d {99,5791 25.(KXI 628.544 1.486.391 171,782) {1.587.1191 146,361 527,816 528.965 1,511,391 (1,658.9011 146,361 S27.816 Aloven7entin funds 8alance at 31 March 2020 Balance at I Apn12019 Income Expenthture TTrnsfers Rese8rth Inspiiing tho ffulu ould 32.773 (132,352) 2, 118,490 (2, 145,577) f12,4Y3) 2. 151,263 (2.290,422) (99.579J 628,J44 655,631 12,493 668. 124 528,965 Research fund: Ensuring the lalesl seminats and Conferen￿ a￿ made available to those who require it. Inspiring the future fund: Inspiring the future bs a free and easy way for schools. col*es and volunteers trom the workl of work lo eonne¢t. Education And Employers Taskforce 41

Notes to the financial statements Year ended 31 Marth 2021 17 Restricted funds {continued) icould fund: Funds were transferred to the Chanty from icould Limited at 31 March 2019. The funds were all spent on delNery of the charitable activity in the year ended 31 March 2020 and going forward fom part of the unrestn'cted charilable activity of the Charty. 18 General funds jlove￿￿￿ in fvThJs BalancÈ at 31 March 2021 BalarKe al 1 April 2020 Intr)￿ Expendituie Transfe Ger(al Lmresincled 108,861 108.861 128,758 128.758 {73,1871 1146.3611 {73.1871 1146.3611 18,071 18,071 Movementfft fvnds Balance at 31 March 2020 Balance at I April 2019 InGorne EXpendttU￿ Transfe Gènér81 unrèstnct 74, 147 74.147 86.784 86,784 (52,070) (52,Q70J 108.861 108,861 19 Designated funds The income funds of the Charity indude the following designated fvnds which have been set aside out of unrestricted funds by the Trustees for specific purposes". IAovement in funds Balance at 31 Alarch 2021 Balance at 1 April 2020 Income Expenditure Stsff Fersonal deVelOpr￿ fund 19.425 19.425 11791 11791 19.246 19.246 Move0￿￿1 ￿ funds Balance at 31 ma￿15 2020 Balan￿ at I Awil 2019 IKome Expenditu Sfaff devekwmentluNI 19,425 19.425 19,425 19.425 The staff personal devebpment fund is extded to be used within the next years. Educat￿ And Employers Taskforce 42

Notes to tho financial Ststements Year ended 31 March 2021 20 Analysis of nèt assets bet￿￿n funds Un-restricted ReStr￿ted fund fund Total 2021 Fund balances at 31 March 2021 a￿ represented by.. Tangi1￿e assets Net current assets 1.409 283.208 284,167 1.409 563,724 56S,133 280.516 280,516 Un• st￿led Rtrstn¢ted fund fund Totsl 2020 Fund balarKes at 31 March 2020 ￿ representedb Tan9ffble assets N8teunèntaS$8ts 2.423 125,863 128.286 2,423 654,828 657.251 528.965 528,965 21 Operating lease comrnitrnents Operating lease payments represent rental payab]es by the Charity for land and buildings. Leases are negob.aled for an average lerrn of 4 years. At 31 March 2021. Ihe Charity had oulslanding commitments for future minimum lease payments under non-canc£llable operating leases. which fall due as follows.. 2021 2020 WIt￿n one year BetsbEen one and five years 25.073 4,3S6 29.429 39,000 39,000 22 Relaled party transactions The Charity received income from the Bank of America during the year totslling £109,111 {2020'. £76,272). There were no amounts outstanding al the current or previous year end. Jennifer Taylor was a Trustee of the Charity until 24 Febnjary 2021 and had an interest in the business. One donation of £40.000 was re￿ived from one trustee in the year12020.' none). There were no further Iransactw)ns with related parties to be disclosed under FRS 102. Education And Employers Taskforce 43

Notes to the finan¢io1 ststements Year ended 31 March 2021 23 Cash lusad In) provlded by operating actAvities 2021 2020 Defiut for the year 192.118) 1104,445 Adjustments ft>r: Interest receivab Depreckation oftangibk fixed ass8ts 13411 1.237 12,207} 6.252 Movements in workings rAwtsl: (IncfeaSeyde￿ase in debtors Inueaselldeueasel in credito 142,2821 314,086 125.3991 Cash (used inVprovid•d by op•raling aetivitiés 1130.9591 88.287 Education And Employers Taskforce 44